SHIB Price and Burn Rate Fall Together
According to statistics from TradingView, SHIB has increased by almost 1% during the last day and is currently trading at $0.00001092.
On March 16, the crypto community accused Shibarium devs of copying code, causing the token to fall in value. According to recent data, the Shiba Inu ecosystem’s founders failed to update the Rinia network’s blockchain ID.
Moreover, SHIB is down about 20% in the previous week and around 2% in the last 30 days. The asset’s current market valuation is around $6.4 billion.
As the token has finally turned green in the last 24 hours, SHIB’s burn rate has dropped significantly. According to Shib Burn statistics, about 15.11 million coins have been burned in the last 24 hours, a 61.16% decrease.
HOURLY SHIB UPDATE$SHIB Price: $0.00001074 (1hr -0.06% ▼ | 24hr -2.18% ▼ )
— Shibburn (@shibburn) March 20, 2023
Market Cap: $6,331,343,639 (-1.97% ▼)
Total Supply: 589,609,800,920,174
TOKENS BURNT
Past 24Hrs: 15,115,003 (-61.26% ▼)
Past 7 Days: 1,484,760,978 (-69.38% ▼)
Similarly, Shiba Inu’s burn rate decreased by 69.38% over the previous seven days as 1.48 billion SHIB tokens, which are currently valued at about $16,260, were delivered to inactive wallets.
A Fav Among Whales
While the whole crypto market value experiences a resurgence and surpasses $1 trillion once again, the second-largest memecoin has gained popularity among the top 500 Ethereum (ETH) whales.
SHIB has more than 1.32 million holders, according to WhaleStats.
The top 100 whales are each owning over $34.28 million in Shiba Inu, with Binance having the most at nearly 47 trillion SHIB, or $514 million, at the time of writing.
